Oil prices fell slightly on Tuesday, ending a five-day winning streak as markets refocused on demand concerns after OPEC on Monday cut its forecast for demand growth in 2024 due to weaker outlook in China.
Brent crude futures fell 78 cents, or 0.95 percent, to $81.52 a barrel. U.S. West Texas Intermediate crude futures lost 73 cents, or 0.91 percent, to $79.33. The downgrade of the Organization of the Petroleum Exporting Countries (OPEC) forecast for global oil demand in 2024 highlighted the dilemma the broader OPEC+ alliance faces in increasing output from October.
Source (Al Arabiya.net Website, Edited)
